Estimated Tax Calculator (1099)
Figure out what a freelancer or 1099 contractor owes the IRS — and how much to send in each quarter. Enter your net self-employment income and filing status, and the calculator combines 2026 self-employment (SECA) tax and federal income tax into a total and a quarterly estimated payment.
Self-employment income has no withholding, so the IRS expects estimated payments four times a year once you owe $1,000 or more. This tool accounts for the 15.3% self-employment tax, the deductible half of it, and the standard deduction to land on a realistic quarterly number.
Net income is your 1099 profit — revenue minus deductible business expenses (Schedule C). The IRS expects estimated payments each quarter when you owe $1,000 or more.
Quarterly estimated payment
$3,247
$12,989 in total federal tax for the year
- Self-employment tax (15.3%)
- $8,478
- Federal income tax
- $4,511
- Deductible half of SE tax
- $4,239
- Taxable income
- $39,661
- Effective rate
- 21.6%
Pay roughly $3,247 by each deadline: April 15, June 15, September 15, and January 15.
Estimate only — not tax advice. Combines 2026 self-employment (SECA) tax and federal income tax using the standard deduction (Rev. Proc. 2025-32). It splits the year’s tax into four equal payments and excludes state tax, the additional 0.9% Medicare tax over $200,000, tax credits, and the qualified business income (QBI) deduction — all of which can change what you actually owe.
Calculation Formulas
Freelancers pay both halves of Social Security (12.4%) and Medicare (2.9%) on 92.35% of net profit. Social Security stops at the annual wage base; Medicare has no cap.
Half the SE tax is deductible before income tax is figured. The year’s total federal tax is then divided into four equal estimated payments due each quarter.
Example:
On $60,000 of 1099 profit (single), SE tax is about $8,478 and income tax about $4,511, so roughly $3,247 is due each quarter.
Key Figures
| Figure | Value | Description |
|---|---|---|
| SE tax rate | 15.3% | 12.4% Social Security + 2.9% Medicare, on 92.35% of net profit. |
| Payment deadlines | Apr 15 · Jun 15 · Sep 15 · Jan 15 | Quarterly estimated-tax due dates for the tax year. |
| Filing requirement | Owe ≥ $1,000 | The IRS generally requires estimated payments when you expect to owe at least $1,000. |
Note: Results are estimates for planning purposes. Rates, fees, taxes, and insurance vary by lender and location — confirm exact figures with a licensed professional before making financial decisions.
Standards & Sources
Last verified: August 2026
- Schedule SE + Form 1040-ES
The self-employment portion follows IRS Schedule SE; the quarterly logic mirrors Form 1040-ES. Both use the 2026 figures from Rev. Proc. 2025-32 and the SSA wage base.
- Deductible half of SE tax
Half of the self-employment tax is an above-the-line deduction that reduces income (but not SE) tax — this calculator applies it before figuring income tax, exactly as the forms do.
- Scope of the estimate
Excludes state tax, the 0.9% additional Medicare tax over $200,000, the qualified business income (QBI) deduction, and credits. Safe-harbor rules (paying 100–110% of last year’s tax) can also change what you should send in.
How to Use This Calculator
- Enter your net self-employment income — your 1099 revenue minus deductible business expenses.
- Add any other income, such as W-2 wages, and choose your filing status.
- Read your quarterly estimated payment and the total federal tax for the year.
- Note the four deadlines (April 15, June 15, September 15, January 15) and set the amount aside each quarter.
Frequently Asked Questions
How much should I set aside for taxes as a 1099 contractor?
A common rule of thumb is to set aside 25–30% of your net self-employment income for federal taxes, because you owe both income tax and the full 15.3% self-employment tax. This calculator gives you a more precise figure based on your actual income and filing status.
When are quarterly estimated taxes due?
For most years the four federal deadlines are April 15, June 15, September 15, and January 15 of the following year. The IRS generally requires estimated payments if you expect to owe $1,000 or more when you file.
What is self-employment tax and why is it separate?
Self-employment tax is the Social Security and Medicare (FICA) tax for people who work for themselves — 15.3% on 92.35% of your net profit. Employees split this 50/50 with an employer, but the self-employed pay both halves, which is why 1099 taxes feel higher than a W-2 job at the same income.
Can I lower my estimated tax?
Yes — deductible business expenses reduce your net profit, and retirement contributions (like a SEP-IRA or Solo 401(k)) and the qualified business income (QBI) deduction can lower taxable income further. This calculator uses the standard deduction and does not include QBI, so your real tax may be lower.
Related Calculators
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